Why Should I choose to sell at auction?

Jonathan Cote

October 04, 2018 14:46

Updated

Reasons to choose auction to sell your Crypto-Collectible:

Ascending auctions provide a process of price discovery. The competitive bidding process aims to drive the price up so the asset achieves its best possible price on the day too. Value is then socially determined through the escalation of bids.

Non-Cancellation: Blockchain technology ensures the immutability of each bid registered. Thus, if it were possible for a bidder to win without submitting the winning bid, he could try to claim that he did not submit the winning bid even in a case where he rightfully won. To ensure Non-Repudiation, a bidder who placed a bid must not be able to contest that he placed it.

Payment Guarantee. This feature avoid shill-bidding technics(i.e. bidders bidding for fun but don't want to pay when the hammer falls at the end of the auction). Payment guarantee ensures the seller to be paid at the end of the auction,

Delivery Guarantee: Auctionity delivers a legally binding sale with contracts exchanged on the fall of the hammer, so neither party can pull out of the sale or try to renegotiate the price. The Delivery Guarantee offers to the bidder the assurance to get the ​ownership of the item as the seller claims the payment of the sale.